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Wednesday, August 12, 2009

Big business versus the vanishing middle class

So Gordon Campbell believes by taxing to public and giving big business a tax haven is the "Best thing he can do for the BC economy"

Well I disagree,this recession was brought on by big business and wall street,lets look at big oil n gas,record profits for years and the price kept rising,investment banks and hedge funds were all the rage,rating agencies gave everyone and their dog the 2 thumbs up,no oversight,nothing but a free for all,and when these investment gurus got bored with 1% or 5% returns what did they do?Lets start with the derivative game,a mere 800 trillion dollars worth of bets on bets on bets,no one even understands what derivatives are,algorithms on a screen(reminds me of the matrix).....So now these flim flammers drive the world into a crash/reality check and how does the world respond,the sec fed in the USA give them 13 trillion dollars worth of pixels,the UK,Canada,everyone buys into it.So whats in it for the vanishing middle class?From what I gather nothing! For the last decade big business has been outsourcing to slave labour countries,pay the workers nothing while their pay packages are in the 100s of millions,sound fair?

Lets get back to BC,we had all our newest ferries built in Germany,for god sakes,we BCers built the best ferries in the world, forestry companies,Campbell has increased raw log exports by 1600% and at the same time mill after mill has closed,something doesn`t add up,but it doesn`t end there,Campbell gives 3 forest companies almost 500.000 hectors of land,roughly 17% of Vancouver island has been given away,yikes!Now Campbell has announced a cut rate on gas royalties for the gas drillers,were they not making any money either? Now I am all for giving business a little help but cmon,a recent story about Teresan gas(remember that little crown asset we used to own?) ..Apparently they had a tax bill of 37 million dollars and boy were they grumbling about it,so the finance minister cut them a deal and said okay how about paying 5 million in taxes,sounds like a deal to me.......

But hold on a minute,what did Teresan gas do?Hired their lawyers and went to court,well we all know how that turned out,oops,there goes that 5 million.........

So here we have the HST,a gift to big business and a bigger gift to the public although the consumer is going to need alot of vaseline to accept it!

I call HST voodoo economics,forestry won`t turn around until raw logs exports are stopped and a return of USA lumber demand,as for mining,if world commodity prices spike they will dig it,smelt it produce it,if prices tank they shut down,regardless of tax policy,our exports never had a PST,tree fallers never charged PST,truck drivers of lumber or trees never charged PST,the mills never charged PST to Home depot or Rona,so where is their flow through?And finally,big business has always had the ability to claim losses against future earnings,we know thats true because thats what Colin Hansen said is the reason our budget deficit went from 495 million to 3.3 billion dollars,Hansen said.....: We had no idea of the extent of losses from the corporate world until Flaherty told us the BC remittance is peanuts:

So HST is a bust,voodoo economics,flim flamming,three card monty...........